2.5 ERMUSR 05-11-2021 - Laserfiche WebLink

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7 EL185-68-707442.v4 Year Amount Interest Rate Year Amount Interest Rate 2022 $155,000 5.000% 2034 $385,000 2.000% 2023 235,000 5.000 2035 395,000 2.000 2024 250,000 5.000 2036 400,000 2.000 2025 260,000 5.000 2037 410,000 2.000 2026 275,000 5.000 2039* 845,000 2.000 2027 290,000 5.000 2040 435,000 2.000 2028 300,000 5.000 2041 445,000 2.000 2029 315,000 5.000 2042 450,000 2.000 2030 335,000 5.000 2043 460,000 2.125 2031 350,000 5.000 2044 470,000 2.125 2032 365,000 3.000 2047* 1,475,000 2.250 2033 380,000 2.000 2051* 2,130,000 2.250 *Term Bond As may be requested by the Purchaser, one or more term Series 2021B Bonds may be issued having mandatory sinking fund redemption and final maturity amounts conforming to the foregoing principal repayment schedule and corresponding additions may be made to the provisions of the applicable Series 2021B Bond(s). The Series 2021B Bonds shall be issuable only in fully registered form. The interest thereon and, upon surrender of each Series 2021B Bond, the principal amount thereof, shall be payable by check or draft issued by the Registrar. 5.02. Interest Payment Dates. The Series 2021B Bonds shall bear interest payable semiannually on February 1 and August 1 of each year, commencing February 1, 2022, calculated on the basis of a 360-day year of twelve 30-day months to the person in whose name the Series 2021B Bond is registered in the Bond Register at the close of business on the 15th day of the immediately preceding month, whether or not such day is a business day. 5.03. Optional Redemption. The City may elect on February 1, 2031, and on any day thereafter to prepay Series 2021B Bonds maturing on or after February 1, 2032. Redemption may be in whole or in part and if in part, at the option of the City and in such manner as the City will determine. If less than all Series 2021B Bonds of a maturity are called for redemption, the City will notify DTC (as defined in Section 8 hereof) of the particular amount of such maturity to be prepaid. DTC will determine by lot the amount of each participant’s interest in such maturity to be redeemed and each participant will then select by lot the beneficial ownership interests in such maturity to be redeemed. Prepayments will be at a price of par plus accrued interest. 5.04. Term Bonds; Mandatory Redemption. The Series 2021B Bonds maturing in 2039, 2047 and 2051 shall hereinafter be referred to collectively as the “Term Bonds.” The principal amounts of the Term Bonds subject to mandatory sinking fund redemption on any date may be reduced through earlier optional redemptions, with any partial redemptions of the Term Bonds credited against future mandatory sinking fund redemptions of such Term Bonds in such order as the City shall determine. The Term Bonds are subject to mandatory sinking fund redemption and 68